Seoul shares are expected to trade almost flat next week as investors are expected to sit on the sidelines amid rising concerns over a cut in the Fed's quantitative easing, analysts said.The country's key stock index, the KOSPI, shed 2.6 percent this week to close at 1,880.71 on Friday.Earlier this week, the local stock market traded almost flat as investors awaited the July minutes of the U.S. Federal Reserve's monetary meeting, which were released on Thursday, U.S. time.The Fed's reduction of

Ongoing strikes at Korea's largest carmaker is having a financial toll on the company.Hyundai Motor is estimated to have lost 145.2 billion won ($130.3 million)Saturday as its workers boycotted that day's overtime shifts, sources said.According to the sources, Hyundai Motor failed to produce 7,104 cars Saturday as its unionized workers did not show up to work for their weekend work shift.The move came after Hyundai's 46,000 union workers staged a partial strike Friday. Hyundai workers also launc

Unionized workers at South Korea's largest carmaker Hyundai Motor Co. vowed to stage partial strikes again after they failed to narrow differences with the management over the latest dispute over wages, union officials said Friday. Union spokesman Kwon Oh-il said the 46,000-strong labor union will put down tools for eight hours each on Friday and Monday to press its demand for higher wages and more fringe benefits."The management's proposals fell short of our union's expectations," Kwon said by

A leading credit rating firm has kept its rating on Korea unchanged despite snowballing speculation of another Asian crisis.Fitch Ratings Co. on Thursday said that it retains the nation's sovereign rating of "AA-," the fourth-highest investment grade with a stable outlook, citing thecountry's good fundamentals.The global credit appraiser said it maintains the level as it believes that the country's household debts and exterior economic conditions will unlikely have a profound impact on the count

Japanese Prime Minister Shinzo Abe is not expected to visit the controversial war shrine on the anniversary of the end of World War II, most likely in a bit to avoid further tension with its neighbors South Korea and China.Citing a government source, Kyodo News reported that Abe will not pay homage to Japan's war dead at the Yasukuni shrine in Tokyo on Aug. 15, the anniversary of the end of World War II, and also Liberation Day in South Korea.The South Korean government has yet to commentThe shr

About six out of 10 Japanese see the South Korean islets of Dokdo as their territory, a Japanese government survey showed Thursday.In an apparent attempt to reiterate its claim to South Korea's easternmost islets, Japan's Cabinet Office released the findings of its first survey on the Japanese people's thoughts on Dokdo, called Takeshima in Japan.The government polled 3,000 Japanese adults aged 20 or older, and 1,784 responded.According to the survey, 60.7 percent said they view Dokdo as Japanes

CJ Group's slush fund predicament faced new challenges on Thursday after a former National Tax Service chief admitted to accepting gifts from the conglomerate.He denied, however, that they were in exchange of any favors, prosecution sources said on Thursday.Jeon Goon-pyo, 59, appeared before prosecutors this day to face questioning over allegations that he accepted kickbacks from CJ in exchange for favors during a tax audit into the local food and entertainment conglomerate in 2006.Jeon is under

The South Korean metropolitan city of Gwangju was selected on Friday as the host of the 2019 world swimming championships.In Barcelona, Spain, the international governing body of swimming, known as FINA, announced Gwangju as the host of the event, which was formally called the FINA World Aquatics Championships. The decision was reached without an election during the FINA Bureau Meeting in Barcelona, the host of the 2013 world championships this month.Budapest, Hungary, which was in the bidding f

KT Corp., struggling to regain momentum amid a rapidly saturating mobile market, on Friday signed up with Lyon to export its smart technology to the French city."It is a great opportunity for us to reinforce our European presence by starting collaboration with metropolises. The deal with Lyon is a starting point for our smart city strategy," said Bahk Jun-sick who leads KT Global Business Unit.Earlier, KT held a meeting with the Lyon mayor Gerard Collomb at its Gwanghwamun headquarters to sign a

“솔섬”의 인기 사진 작가 마이클 케나가 대한항공에 대한 불편한 속내를 드러냈다. “진심으로 실망했고 마음이 상했다”고 코리아 헤럴드에 전한 케나는 “대한항공 정도의 회사라면 오히려 기준을 만들어가고 작품의 독창성을 지지해야 한다”며 분통을 터뜨리며 왜 대한항공이 본인의 원작을 사용하지 않고 소위 말하는 “짝퉁”을 사용했는지 이해가 안 된다고 전했다. 케나는 결국 대한항공을 상대로 3억원 상당의 소송을 제기했다. 문제의 사진은 전세계적으로 유명세를 탄 “솔섬”이다. 이 작품은 케나가 2007년도에 강원도 "속섬"을 촬영한 흑백사진으로, 국내외서 엄청난 유명세를 탔다. 그로부터 약 4년 뒤인 2011년에 대한항공은 이 사진을 광고에 실어 큰 인기를 끌었다.문제는 광고에 쓰인 사진은 아마추어 작가의 작품으로, 케나의 사진과 거의 흡사했고, 제목 또한 케나가 사용한 “솔섬”이었다. 대한항공은 광고를 내보내기 몇 달 전 공모전을 통해 이 사진을 발탁했으며, 아마추어 작가도 이 사실을 몰랐다